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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (44630)	7/6/2002 1:39:38 AM
From: lifeisgood	Read Replies (2) of 209892

Perhaps in the meantime you could sketch out an explanation for today's activity that does not involve manipulation Here's another plausible explanation. Most professional and institutional traders took the day off. What remained were the Ameritraders and what's left of the day trading crowd (at least those who still have marginable equity left). Add to that the typical 40-hour-week laborer who had the day off and decided to play in the casino for a day and voila' you get what you got today. Next week, professionals come back and resume their distribution of overpriced stock. By the end of next week, it will all be like a very bad dream for the Ameritrader and the but-you-told-me-THIS-was-the-bottom gullible mom and pop "investor". Institutions absolutely love days like today when the market goes up dramatically, inasmuch as they can now distribute stock at higher prices and they didn't have to manipulated the market higher themselves in order to accomplish this. It's like free money to them with no risk. They sell overpriced paper and get cash in return... Vat a country! best... LIG

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